By Diamond-Michael Scott
February 16, 2021
Bitcoin continued it’s blistering pace, rocketing today to $50,000 for the first time in history.
The “King of Cryptocurrency” by market value accelerated over 3% to a new all-time high of $50,487 at about 7:30 a.m. ET, according to Coin Metrics. It has since declined to $48,000 at 5:00 pm ET.
Bitcoin’s surge in recent weeks has been bolstered by reports of greater adoption by mega firms like Tesla, MasterCard, and Apple. These developments have led to a flurry of activity on the part of crypto investors seeking their stake in the largess.
Still, naysayers abound, many of them howling that bitcoin is a purely a speculative asset, worrying that it signifies one of greatest market bubbles in history.
So what are your thoughts? Please respond in the comment section below.